Shibarium, the Layer-2 scaling solution for the Shiba Inu cryptocurrency, has set a new record by processing a staggering 7.4 million transactions in a single day.
This milestone is part of a broader surge that saw the platform handle over 12.5 million transactions in just two days.
This is a significant turnaround for a network that appeared dormant (or even borderline dead) just weeks ago.
Shibarium's stunning comeback
Shibarium has recently experienced a stunning resurgence, contrasting sharply with its previous state of inactivity.
In the past few days alone, the network recorded an impressive transaction volume, with nearly 35,000 transactions on Tuesday and over 29,000 on Wednesday.
This peak in activity is the highest since Oct. 25, when Shibarium processed a then-record of 62,000 transactions.
Earlier this month, Shibarium had shown signs of increasing activity, but the recent spike surpasses all expectations. This revival is particularly noteworthy given the platform's earlier struggles, where it saw days with fewer than 10,000 transactions.
Moderate impact on SHIB's price
Despite Shibarium's exceptional performance, the excitement has not translated into a significant spike in the value of SHIB.
The meme coin, which is the second-largest of its kind, has seen only a modest increase of 2.5% in its price over the last 24 hours.
The current market data show SHIB priced at $0.00000852, with a 24-hour trading volume of $134,747,522.
Although Shibarium's achievements are noteworthy, they have yet to make a substantial impact on SHIB's market cap or its position on investor watch lists.
Valeria Blokhina
Vladislav Sopov
Gamza Khanzadaev
